Question
The following is the trial balance of Gulaloba Sdn Bhd as at 31 December 2020. Particulars Debit (RM) Credit (RM) Inventory as at 1 December
The following is the trial balance of Gulaloba Sdn Bhd as at 31 December 2020.
| Particulars | Debit (RM) | Credit (RM) |
| Inventory as at 1 December 2020 | 5,000 | |
| Purchases and sale | 22,500 | 150,400 |
| Carriage Outwards | 2,000 | |
| Return Outward | 600 | |
| Wages and Salaries | 2,200 | |
| Utility | 1,800 | |
| Delivery cost | 350 | |
| Discount allowed and discount received | 750 | 500 |
| Insurance | 1,400 | |
| Duty Import | 600 | |
| Building | 100,000 | |
| Account receivable and account payable | 40,000 | 13,000 |
| Furniture and fittings | 8,000 | |
| Cash in bank | 15,000 | |
| Cash in hand | 2,000 | |
| Drawing | 900 | |
| Capital | 38,000 | |
| 202,500 | 202,500 |
The closing inventory was RM5,500
REQUIRED:
-
Prepare Statement of Comprehensive Income for the year ended 31 December 2020.
(10 marks)
2. Prepare Statement of Financial Position as at 31 December 2020.
(10 marks)
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